Depomed, Inc. (NASDAQ:DEPO) Position Maintained by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky maintained its stake in shares of Depomed, Inc. (NASDAQ:DEPO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,500 shares of the specialty pharmaceutical company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Depomed were worth $182,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Depomed during the fourth quarter worth approximately $13,075,000. Litespeed Management L.L.C. increased its stake in shares of Depomed by 55.0% in the first quarter. Litespeed Management L.L.C. now owns 1,833,698 shares of the specialty pharmaceutical company’s stock worth $23,013,000 after buying an additional 650,746 shares during the period. Vanguard Group Inc. increased its stake in shares of Depomed by 14.6% in the first quarter. Vanguard Group Inc. now owns 4,791,200 shares of the specialty pharmaceutical company’s stock worth $60,129,000 after buying an additional 609,722 shares during the period. Capital Fund Management S.A. increased its stake in shares of Depomed by 2,231.0% in the first quarter. Capital Fund Management S.A. now owns 358,789 shares of the specialty pharmaceutical company’s stock worth $4,503,000 after buying an additional 343,397 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Depomed during the first quarter worth approximately $2,741,000. Institutional investors and hedge funds own 91.42% of the company’s stock.
Shares of Depomed, Inc. (NASDAQ DEPO) traded up 0.96% on Friday, reaching $6.32. 1,585,296 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $10.06 and its 200-day moving average price is $12.61. The company’s market capitalization is $398.08 million. Depomed, Inc. has a 12 month low of $5.95 and a 12 month high of $27.02.
Depomed (NASDAQ:DEPO) last announced its earnings results on Monday, August 7th. The specialty pharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.52. The company had revenue of $100 million for the quarter, compared to the consensus estimate of $100.40 million. Depomed had a negative return on equity of 45.03% and a negative net margin of 26.02%. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. On average, equities analysts anticipate that Depomed, Inc. will post $0.51 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Mizuho decreased their target price on shares of Depomed from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 25th. TheStreet cut shares of Depomed from a “c-” rating to a “d+” rating in a research report on Thursday, April 27th. Royal Bank Of Canada reissued a “hold” rating and issued a $13.00 target price on shares of Depomed in a research report on Tuesday, June 13th. Piper Jaffray Companies raised shares of Depomed from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Wednesday, May 10th. Finally, Cantor Fitzgerald set a $14.00 target price on shares of Depomed and gave the stock a “hold” rating in a research report on Monday, May 15th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Depomed presently has an average rating of “Hold” and a consensus target price of $14.59.
In related news, insider Arthur J. Higgins bought 15,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $9.92 per share, with a total value of $148,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.59% of the stock is owned by corporate insiders.
Depomed Company Profile
Depomed, Inc is a specialty pharmaceutical company. The Company focuses on pain and other central nervous system (CNS) conditions. Its products include NUCYNTA ER (tapentadol extended release tablets), NUCYNTA IR (NUCYNTA) (tapentadol), Gralise (gabapentin), CAMBIA (diclofenac potassium for oral solution), Zipsor (diclofenac potassium) and Lazanda (fentanyl).
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